According to a recent CoinDeskarticle, there is much to be learned from the recent DAO incident. The DAO, an ethereum-based distributed autonomous organization, has admitted becoming the victim of a cyberattack on their cryptocurrency Ether platform. In order to create a better future pertaining to DAOs, the CoinDesk article recommends instituting classes of smart contracts, instituting a self-imposed limit on any contract, and applying a trilogy of blockchain applications including business, technology and a legal aspect.

Blockchain technology has the potential to radically redefine many industries, including financial services. SFIG recognizes the importance of responsible development for this new technology and its applications, driving the formation of our Blockchain Task Force. If you would like to join this task force, please contact Alyssa.Acevedo@sfindustry.org.